Rents for apartments in sought-after areas are on the rise - this is what the "Catella" company found out when it compiled the "Catella Residential Map Germany 2021". Whereas a three-room apartment (65 to 80 square meters, all construction year classes) in a very good residential location was still available throughout Germany in the first quarter of 2020 for an average rent of 11.54 euros per square meter/month, it already cost 12.16 euros per square meter/month in the first quarter of 2021. This corresponds to an increase of around 5.37 percent. Tenants in mid-range residential locations are also paying more for corresponding apartments. While these were still available for EUR 8.97 per square meter in the first quarter, they already cost EUR 9.17 in the first quarter of 2021. This represents an increase of around 2.23 percent.
Catella also looked at rents in the top seven residential markets in Germany, which include Munich, Berlin, Hamburg, Düsseldorf, Frankfurt am Main, Stuttgart and Cologne. Here, the company found that the average rent for a corresponding apartment in a very good location has risen from 17.91 to 18.56. This corresponds to an increase of around 3.3 percent. This corresponds to an increase of around 3.63 percent. In mid-range residential locations, rents were down slightly (- 0.02 percent).
The most expensive place to live is Munich. In the Bavarian capital, an apartment in a very good location costs an average of €26.81 per square meter and €17.15 per square meter in a medium location. In Herne in North Rhine-Westphalia, on the other hand, tenants live inexpensively: An average of €7.98 per square meter is paid for apartments in very good locations and €6.29 per square meter in medium locations.
Source: Catella Research 2021
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